Entrepreneurship - Chapter 4

The original meaning of ‘economy’ is:
1. one who manages a country
2. one who manages a bank
3. one who manages a household
4. one who manages accounts
Factors which affect the performance and structure of a national or regional economy as a whole are known as:
1. Micro-economic factors
2. Meso-economic factors
3. Macro-economic factors
Which of the following types of economic development life cycle is shared by Finland, Germany, Ireland and Japan:
1. Factor-driven economies
2. Efficiency-driven economies
3. Innovation-driven economies
Which of the following is not a theory put forward to explain the increase in importance of small businesses in the economy:
1. Globalisation
2. Flexible specialisation
3. Mass production
4. Deregulation
Economic freedom is defined as ‘the absolute right of property ownership, fully realized freedom of movement for labour, capital, and goods, and an absolute absence of coercion or constraint of economic liberty beyond the extent necessary for citizens to protect and maintain liberty itself’.
1. True
2. False
Which of the following best describes Germany’s economic system:
1. closed
2. agricultural
3. protectionist
4. coordinated
The move towards a market economy is the explicit objective of countries regarded to have ‘transition economies’.
1. True
2. False
Entrepreneurial individuals who were largely foreign-educated and who now have returned to China to start businesses are known as:
1. sea-horses
2. river-fish
3. sea-turtles
4. sharks
Which of the following is not a main factor contributing to the failure to bring about entrepreneurship development in India?
1. extensive bureaucratic controls over production, investment and trade.
2. low interest in entrepreneurship amongst private sector.
3. inward looking policies for trade and foreign investment.
4. a very large public sector.
10. Poor economic conditions always constrain entrepreneurial activity.
1. True
2. False

Entrepreneurship - Chapter 4

Quiz